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SEC v. Noble Corp.

 
:
Freight Forwarders - Noble Corp.
:
SEC Civil
:
November 4, 2010
:
SEC v. Noble Corp.
:
SEC v. Noble Corp., No. 4:10-cv-04336 (S.D. Tex. 2010)
:
Nigeria
:
2003; 2004; 2005; 2006; 2007
:
Customs officials in Nigeria (Nigeria Customs Service)
:
Between January 2003 and May 2007, Noble’s Nigerian subsidiary (“Noble-Nigeria”) allegedly paid a total of at least $79,026 as “special handling charges” to its Nigerian customs agent.  Noble-Nigeria and certain employees of Noble Drilling Services Inc., Noble’s U.S.-subsidiary, had allegedly been informed that a portion of the money paid to the Nigerian customs agent would be paid to the Nigeria Customs Service officials for the purpose of illegally obtaining extensions for the temporary import permits for the rigs in the Nigerian waters, so as to avoid the need to either permanently import the rigs or export and re-import the rigs to obtain new temporary import permits.
 
On November 4, 2010, Noble, without admitting or denying the allegations, consented to the entry of final judgment, under which Noble would pay a total of $5,576,998 in disgorgement of its profits gained and costs avoided, with prejudgment interest.
:
Anti-bribery (Issuer), Books and records (Issuer), Internal controls (Issuer)
:
Disgorgement, Injunction/Cease and desist
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Disgorgement of $4,294,933 plus pre-judgment interest of $1,282,065
:
5,576,998
:
0
:
Issuer
:
Foreign
:
License/Permit
:
4,294,933
:
Cash
:
Customs Broker or Agent/Consultant
:
79,026
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Nigeria
:

:
No